Denver FHA Loan Rates, Closing Costs & Stats
DENVER-AURORA-LAKEWOOD, CO
FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.
FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.
While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.
For additional requirements as defined by the FHA, click here.
Denver's 250 lenders originated 16,540 FHA loans during 2021. The total origination value was $6,115,990,000, with an average FHA loan value of $369,770.
Denver FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Denver
averaged
-0.03%
for the week of 2023-01-20, compared to the national average (all FHA variants) of
0% for the same period.
Denver's average FHA mortgage closing costs are $10,253.
The average rate for the prior week (2023-01-13) was
6.09% and
one month ago for the week of 2022-12-16, the
average rate was 5.98%.
The average rate one year ago was 3.78%.
For refis of the same type during the week of 2023-01-20, the average rate
was -0.42%.
Denver FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Denver level.
The top Denver FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with
1,366 FHA loans originated. Their average total fees are
$10,371, which is $349
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Denver FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($4,254), MID AMERICA MORTGAGE, INC. ($5,356), CHERRY CREEK MORTGAGE, LLC ($6,779), Mr. Cooper ( Nationstar Mortgage ) ($6,785) and AmeriHome Mortgage Company, LLC ($7,062).
The lowest rate Denver FHA lenders (with over 10 loans originated) are
UNION HOME MORTGAGE CORP. (2.38%), InterContinental Capital Group, Inc (2.54%), QUICKEN LOANS, LLC (2.59%), Ent Credit Union (2.63%) and HOME POINT FINANCIAL CORPORATION (2.65%).
Denver FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| DENVER-AURORA-LAKEWOOD, CO | ADAMS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ARAPAHOE | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | BROOMFIELD | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | CLEAR CREEK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DENVER | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | DOUGLAS | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | ELBERT | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | GILPIN | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | JEFFERSON | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DENVER-AURORA-LAKEWOOD, CO | PARK | 2022 | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $549,488 (3.7%) | $758,058 (4.2%) | 2.04 | 3,796 |
| 2018-02-01 | $549,950 (1.9%) | $765,631 (3.0%) | 2.00 | 3,929 |
| 2018-03-01 | $549,900 (0.1%) | $768,776 (2.1%) | 1.93 | 4,296 |
| 2018-04-01 | $545,000 (0.9%) | $760,257 (3.2%) | 1.85 | 4,875 |
| 2018-05-01 | $532,400 (0.6%) | $742,481 (2.6%) | 1.78 | 5,451 |
| 2018-06-01 | $520,000 (-0.5%) | $717,321 (1.3%) | 1.73 | 6,460 |
| 2018-07-01 | $499,950 (-3.8%) | $696,601 (-0.5%) | 1.67 | 7,129 |
| 2018-08-01 | $495,000 (-1.0%) | $673,821 (-2.0%) | 1.66 | 7,432 |
| 2018-09-01 | $489,900 (-2.0%) | $664,752 (-3.2%) | 1.64 | 7,892 |
| 2018-10-01 | $479,700 (-4.1%) | $645,621 (-6.6%) | 1.62 | 8,098 |
| 2018-11-01 | $474,950 (-8.1%) | $637,070 (-10.7%) | 1.61 | 7,721 |
| 2018-12-01 | $475,000 (-12.0%) | $644,555 (-12.9%) | 1.64 | 6,235 |
| 2019-01-01 | $487,500 (-11.3%) | $655,428 (-13.5%) | 1.68 | 5,453 |
| 2019-02-01 | $499,750 (-9.1%) | $672,138 (-12.2%) | 1.69 | 5,496 |
| 2019-03-01 | $515,814 (-6.2%) | $683,482 (-11.1%) | 1.69 | 5,925 |
| 2019-04-01 | $523,764 (-3.9%) | $689,300 (-9.3%) | 1.66 | 6,485 |
| 2019-05-01 | $515,000 (-3.3%) | $676,453 (-8.9%) | 1.61 | 7,504 |
| 2019-06-01 | $515,000 (-1.0%) | $668,008 (-6.9%) | 1.61 | 8,394 |
| 2019-07-01 | $500,000 (0.0%) | $656,650 (-5.7%) | 1.57 | 8,909 |
| 2019-08-01 | $498,564 (0.7%) | $654,641 (-2.9%) | 1.58 | 8,786 |
| 2019-09-01 | $496,559 (1.4%) | $653,212 (-1.7%) | 1.59 | 8,634 |
| 2019-10-01 | $495,223 (3.2%) | $652,585 (1.1%) | 1.60 | 8,457 |
| 2019-11-01 | $499,000 (5.1%) | $666,159 (4.6%) | 1.64 | 7,201 |
| 2019-12-01 | $497,450 (4.7%) | $673,991 (4.6%) | 1.66 | 6,136 |
| 2020-01-01 | $527,450 (8.2%) | $734,929 (12.1%) | 1.76 | 3,893 |
| 2020-02-01 | $550,000 (10.1%) | $776,599 (15.5%) | 1.80 | 3,622 |
| 2020-03-01 | $551,036 (6.8%) | $780,641 (14.2%) | 1.73 | 4,310 |
| 2020-04-01 | $542,498 (3.6%) | $728,521 (5.7%) | 1.70 | 4,951 |
| 2020-05-01 | $544,365 (5.7%) | $727,813 (7.6%) | 1.65 | 5,861 |
| 2020-06-01 | $545,000 (5.8%) | $733,633 (9.8%) | 1.60 | 6,541 |
| 2020-07-01 | $540,000 (8.0%) | $739,153 (12.6%) | 1.57 | 6,058 |
| 2020-08-01 | $538,486 (8.0%) | $746,167 (14.0%) | 1.54 | 5,765 |
| 2020-09-01 | $521,959 (5.1%) | $748,962 (14.7%) | 1.50 | 5,379 |
| 2020-10-01 | $515,000 (4.0%) | $749,635 (14.9%) | 1.48 | 4,882 |
| 2020-11-01 | $519,000 (4.0%) | $768,320 (15.3%) | 1.52 | 3,943 |
| 2020-12-01 | $528,258 (6.2%) | $799,806 (18.7%) | 1.57 | 2,919 |
| 2021-01-01 | $525,000 (-0.5%) | $811,419 (10.4%) | 1.57 | 2,308 |
| 2021-02-01 | $537,520 (-2.3%) | $825,793 (6.3%) | 1.56 | 2,166 |
| 2021-03-01 | $549,950 (-0.2%) | $843,875 (8.1%) | 1.56 | 2,259 |
| 2021-04-01 | $575,000 (6.0%) | $886,614 (21.7%) | 1.56 | 2,235 |
| 2021-05-01 | $595,000 (9.3%) | $893,937 (22.8%) | 1.57 | 2,308 |
| 2021-06-01 | $599,000 (9.9%) | $873,201 (19.0%) | 1.58 | 3,111 |
| 2021-07-01 | $599,900 (11.1%) | $850,234 (15.0%) | 1.58 | 3,739 |
| 2021-08-01 | $600,000 (11.4%) | $839,879 (12.6%) | 1.60 | 3,864 |
| 2021-09-01 | $599,907 (14.9%) | $843,996 (12.7%) | 1.60 | 3,855 |
| 2021-10-01 | $610,000 (18.5%) | $845,421 (12.8%) | 1.63 | 3,596 |
| 2021-11-01 | $617,250 (18.9%) | $861,701 (12.2%) | 1.65 | 2,746 |
| 2021-12-01 | $624,698 (18.3%) | $896,145 (12.1%) | 1.69 | 1,906 |
| 2022-01-01 | $637,000 (21.3%) | $975,912 (20.3%) | 1.72 | 1,460 |
| 2022-02-01 | $645,220 (20.0%) | $979,063 (18.6%) | 1.68 | 1,540 |
| 2022-03-01 | $660,000 (20.0%) | $967,090 (14.6%) | 1.65 | 1,859 |
| 2022-04-01 | $675,000 (17.4%) | $960,993 (8.4%) | 1.61 | 2,379 |
| 2022-05-01 | $694,000 (16.6%) | $941,494 (5.3%) | 1.59 | 3,447 |
| 2022-06-01 | $679,250 (13.4%) | $882,870 (1.1%) | 1.51 | 4,788 |
| 2022-07-01 | $650,000 (8.4%) | $839,653 (-1.2%) | 1.47 | 6,199 |
| 2022-08-01 | $632,500 (5.4%) | $820,585 (-2.3%) | 1.46 | 6,490 |
| 2022-09-01 | $625,000 (4.2%) | $819,046 (-3.0%) | 1.46 | 6,512 |
| 2022-10-01 | $620,000 (1.6%) | $826,718 (-2.2%) | 1.46 | 6,594 |
| 2022-11-01 | $605,045 (-2.0%) | $826,019 (-4.1%) | 1.46 | 6,044 |
| 2022-12-01 | $600,000 (-4.0%) | $828,783 (-7.5%) | 1.50 | 4,692 |
Denver's median listing price comes in at 150% of the national average.
Denver's average listing price for 2022-12-01 was $828,783, a difference of $-67,362 (-7.5%) versus the prior year and $2,764 versus the prior month.
For the 2022-12-01 period, Denver had 4,692 MLS listings, a difference of -1,352 listings (-22%) versus the prior month and 2,786 listings (146%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Denver (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 58 days | 2,959 sqft |
| 2018-02-01 | 36 days | 2,978 sqft |
| 2018-03-01 | 27 days | 2,980 sqft |
| 2018-04-01 | 24 days | 2,924 sqft |
| 2018-05-01 | 23 days | 2,879 sqft |
| 2018-06-01 | 25 days | 2,776 sqft |
| 2018-07-01 | 30 days | 2,712 sqft |
| 2018-08-01 | 35 days | 2,632 sqft |
| 2018-09-01 | 37 days | 2,592 sqft |
| 2018-10-01 | 38 days | 2,500 sqft |
| 2018-11-01 | 45 days | 2,468 sqft |
| 2018-12-01 | 58 days | 2,462 sqft |
| 2019-01-01 | 61 days | 2,466 sqft |
| 2019-02-01 | 33 days | 2,483 sqft |
| 2019-03-01 | 31 days | 2,531 sqft |
| 2019-04-01 | 29 days | 2,581 sqft |
| 2019-05-01 | 28 days | 2,567 sqft |
| 2019-06-01 | 31 days | 2,560 sqft |
| 2019-07-01 | 36 days | 2,510 sqft |
| 2019-08-01 | 39 days | 2,476 sqft |
| 2019-09-01 | 41 days | 2,441 sqft |
| 2019-10-01 | 43 days | 2,418 sqft |
| 2019-11-01 | 51 days | 2,401 sqft |
| 2019-12-01 | 63 days | 2,307 sqft |
| 2020-01-01 | 62 days | 2,538 sqft |
| 2020-02-01 | 35 days | 2,855 sqft |
| 2020-03-01 | 24 days | 2,764 sqft |
| 2020-04-01 | 34 days | 2,677 sqft |
| 2020-05-01 | 38 days | 2,698 sqft |
| 2020-06-01 | 33 days | 2,514 sqft |
| 2020-07-01 | 34 days | 2,410 sqft |
| 2020-08-01 | 32 days | 2,260 sqft |
| 2020-09-01 | 31 days | 2,138 sqft |
| 2020-10-01 | 31 days | 2,016 sqft |
| 2020-11-01 | 40 days | 1,924 sqft |
| 2020-12-01 | 51 days | 1,896 sqft |
| 2021-01-01 | 43 days | 1,872 sqft |
| 2021-02-01 | 18 days | 1,945 sqft |
| 2021-03-01 | 10 days | 2,034 sqft |
| 2021-04-01 | 9 days | 2,171 sqft |
| 2021-05-01 | 8 days | 2,207 sqft |
| 2021-06-01 | 9 days | 2,260 sqft |
| 2021-07-01 | 16 days | 2,272 sqft |
| 2021-08-01 | 19 days | 2,218 sqft |
| 2021-09-01 | 23 days | 2,208 sqft |
| 2021-10-01 | 24 days | 2,240 sqft |
| 2021-11-01 | 30 days | 2,224 sqft |
| 2021-12-01 | 40 days | 2,200 sqft |
| 2022-01-01 | 27 days | 2,195 sqft |
| 2022-02-01 | 8 days | 2,209 sqft |
| 2022-03-01 | 7 days | 2,276 sqft |
| 2022-04-01 | 6 days | 2,296 sqft |
| 2022-05-01 | 10 days | 2,457 sqft |
| 2022-06-01 | 16 days | 2,429 sqft |
| 2022-07-01 | 23 days | 2,376 sqft |
| 2022-08-01 | 31 days | 2,323 sqft |
| 2022-09-01 | 36 days | 2,303 sqft |
| 2022-10-01 | 37 days | 2,299 sqft |
| 2022-11-01 | 47 days | 2,285 sqft |
| 2022-12-01 | 61 days | 2,255 sqft |
Denver's median square footage for active listings during the 2022-12-01 period was 2,255 sqft. One year prior, the average listing was 2,200 sqft.